LAHORE
Investors at the Pakistan Stock Exchange (PSX) take a sigh of relief as the festive Eid comes along. According to figures released by the National Clearing Company of Pakistan (NCCPL) on Wednesday, individual investors were highest net sellers as they relinquished stocks in panic while foreign investors bought these at discounted rates. This is very good news for the PSX which was previously seen with skepticism from these international investors.
What investors would want to remember is that the benchmark KSE 100 index has regained around 1,200 points in two seasons bringing it to 46,212.54. The index had toppled to 43,826.67 trading in the previous session down 20pc from its peak hit just a month away. The KMI 30 index added 1,628.26 points after the cement sector and oil and gas exploration sector topped up their market capitalization by 2.33pc and 1.65pc respectively. The KSE All Share Index appreciated by 473.64 points. The advancer to decliner ratio stood at 255 to 104.
The market volumes were lower than yesterday’s. They clocked at 291.24 million with K-Electric Limited (KEL +2.19pc) leader by a majority. A total of 68.03 million shares of the script were exchanged on the table followed by TRG Pakistan Limited (TRG -2.11pc) where 15.75 million shares were traded.
The National Tariff Commission (NTC) communicated its final determination of anti-dumping duties on import of billets from China and imposed a 24.04pc definitive duty. This shall be applicable five years effective from 22nd Jun’17. The application was lodged by Amreli Steels Limited (ASTL +5.00pc) who jumped to its upper circuit breaker on the news.
In a notice the exchange informed stakeholders that trading in the shares of NIB Bank Limited (NIB +3.55pc) will be suspended with effect from Wednesday, July 5, 2017 for entitlement of shares of MCB Bank Limited (+1.98pc) on account of Amalgamation of NIB with and MCB.
The exchange shall remain closed on Friday, June 23, 2017 and from Monday, June 26, 2017 to Wednesday, June 28, 2017 on account of Juma-tul Wida and Eid-uI-Fitr Holidays, respectively. Trading shall resume on normal timings from Thursday.
